In 2023, social media apps will be increasingly important, therefore it’s important that your brand stays current. Many companies and marketers lose restless nights worrying about the unpredictable nature of social media. Who, for instance, would have thought that in a little over a year’s time Facebook would fall from the ranks of the most downloaded social networking apps? In a word, not many. Yet, Meta’s software has fallen out of the App Store’s daily top 10 lists on 59 separate days this year.
Similarly, two years ago, virtually no one had heard of BeReal. However it has grown to become one of the most popular social networking sites, with over 53 million users and up to 10 million users on a daily basis. Because social media is being used as a means through which consumers interact with their favourite companies, these shifts have ongoing effects. In 2023, social media apps will be increasingly important, so make sure your company is prepared.
Predictions for the Future of 7 Popular Social Media Apps in 2023
Thankfully, a look into the future may be gained by compiling and evaluating existing data. This, of course, gives forward-thinking companies the chance to get ready for everything. So, we have compiled seven social media trends for 2023 that you should be aware of for your company.
One, online purchases from social media platforms keep rising rapidly.
The amount spent online worldwide increased from $492 billion in 2021 to just over $600 billion the following year. The upswing following the covid epidemic was the primary impetus for this. As the influence of social media in international trade grows, however, marketers should anticipate this tendency to continue. By 2025, some estimates put the total income at $1.2 trillion. One of the main drivers of eCommerce on social media is the availability of deals and discounts.
Two, the importance of influencers will grow
The percentage of social media marketers that employed influencers in 2022 increased to at least 72.5% from 67.9% in 2021. This pattern shows no signs of abating either. New data from Lumanu shows that compared to more conventional social media advertisements, influencer marketing generates a return of $5 to $6 for every $1 spent. Statista predicts that by 2023, corporations and marketers would invest $4.5 billion in influencer marketing.
Third, will short-form video become the norm?
You’ve probably seen videos in the “Shorts,” “Reels,” and “Spotlight” formats on YouTube, Instagram, and Snapchat. Have you ever pondered the why, though? To provide just one example, why would YouTube, which has become synonymous with interminably lengthy films, suddenly embrace “shorts”? Easy. Since people’s attention spans are shorter than ever, and short films are all the rage. Advertisements that are less than 30 seconds long also have a higher conversion rate, while videos that are under a minute long see 68% more views. So much so that 30% of SMMs want to increase spending on snippet-length videos in the coming year.
Is TikTok Going to Dominate the Market?
Probably not. Its rapid expansion suggests, however, that it will eventually approach that point. TikTok’s meteoric climb to fame in such a short amount of time (the app was just released in 2016) is remarkable. For example, in 2019, 693 million individuals used the app, while in 2020, 850 million people are expected to use it. Indeed, TikTok today boasts over 1.8 billion monthly active users. It’s now the ninth most downloaded social networking app overall. If the current trend continues, it may enter the top three by the year 2024.
The future of online shopping will be driven by social augmented reality.
To make augmented reality a reality, social media platforms are pulling all-nighters. This is supported by the growing investments in augmented reality for social media. For example, the augmented reality (AR) market for social media is projected to grow from $42.7 million in 2018 to $411.4 million in 2023 (a CAGR of 57.3%). In other words, it’s one of the most rapidly expanding movements on the web today. By far, the most widely used augmented reality app is Snap AR on Snapchat.
6 Will social audio become popular?
Throughout the majority of 2021 and the beginning of 2022, social audio platforms like Clubhouse dominated the airways. Sadly, interest started to wane towards the end of 2022. Might this, however, make a reappearance in the year 2023? Regrettably, many professionals in the field of social media disagree. As an example, Twitter’s Spaces has lost its appeal while Spotify’s “Locker Room” has mostly lost its purpose. Facebook’s “Live Audio Rooms” feature has also slowed down. Because of this, it seems unlikely that any of these platforms will ever recover. So, it is more beneficial for businesses and marketers to concentrate on podcasts with longer episodes rather than short audio clips.
Summary
We may expect huge things from social media in 2023, as well as from the people who utilise these services. For instance, in 2023, we may anticipate to see an increase in social commerce, short-form movies, and social augmented reality. Likewise, 2019 will be a prosperous year for TikTok and social media influencers. It’s possible that other features and applications could eventually eclipse social audio networks, which would be a terrible shame.